If you were investing in Asia shares this year, about the best thing you could have done would have been to invest in Alibaba
or Tencent. Their eye-watering gains have made them two of the most valuable companies. Shares of China-based internet groups rose about 70 per cent before peaking in November; the broader MSCI China index has risen 50 per cent in the same period, leaving it the best performer among emerging markets stocks.
However, a drop in Tencent and Alibaba from their November peaks has given fund managers pause. Is this a minor interruption in what is ultimately an upward trajectory of those tech companies with a grip on the Chinese market, or something that will prove more lasting?